The facts are the facts.
Here it is from Forbes: http://www.forbes.com/forbes/2011/08...ch-richer.html
http://www.dailyfinance.com/2010/02/...data-says-yes/Unemployment is at 9.2%, and the ruins of the U.S. housing market are still smoldering after the 2008 bonfire. But the planet's rich are getting richer, especially in the growing BRIC economies.
In fact, there are more rich people today than there were before the credit crisis destroyed Lehman Brothers and Bear Stearns and nearly crippled the world's financial industry.
The Census Bureau divides household income into quintiles -- 20% each, from the lowest to the highest, with an added column that breaks out the top 5% of households. To assess how well each household quintile has done financially since 1975, I took the raw data for 1975 and 2001 (the last year available in this series) and calculated how much each quintile gained in income, both as a dollar amount and as a percentage of their 1975 income.
The results are striking. The vast majority of income increases has accrued to the top 20% and especially the top 5%. Here are some of the numbers, adjusted into 2001 dollars. (Note that this is an "apples to apples" analysis that is adjusted for inflation.)
If you want more stats just askThe 400 wealthiest Americans have seen their annual incomes skyrocket over the last two decades while their tax rates have decreased dramatically, according to newly released data from the Internal Revenue Service. In fact, between 1992 to 2007, the annual incomes of this tiny club of über-rich increased seven-fold to a whopping $345 million on average, while their effective tax rate dropped by more than one-third from a 1995 peak of nearly 30%, the data shows.
"This just-disclosed data shows that government policy is concentrating incomes at the very top and steadily lowering their tax burden, thus shifting it on to Americans who in a lifetime don't make what these people make in a week," Johnston told DailyFinance.
Between 1992 to 2007, the last year included in the data, the income of the 400 richest Americans rose 637% to the average $345 million mark. During that same period, their effective tax rate declined by over one-third, from a peak tax rate of nearly 30% to 16.6%. Meanwhile, their share of all adjusted gross income increased from 0.52% to 1.59% over that same period.
Source: Economic Policy Institute, The State of Working America 2011, "Wealth Holdings Remain Unequal in Good and Bad Times."
Source: Congressional Budget Office, Average Federal Taxes by Income Group, “Average After-Tax Household Income,” June, 2010.